Nifty Bank slips 5% dragged by HDFC Bank, Kotak Mahindra Bank
Updated : July 22, 2019 11:32 AM IST
Nifty Bank on Monday plunged 5 percent in trade on Monday after HDFC companies started to trade negatively in the morning session.
Among Nifty Bank stocks, HDFC Bank was trading 3.11 percent lower intraday. Shares of ICICI Bank declined 1.46 percent while Kotak Mahindra Bank fell 2 percent intraday on Monday.
The Bank saw provisions increasing for bad loans significantly to Rs 2,613.7 crore in the June quarter, higher by 38.3 percent as compared to previous quarter.